Detailed text transcripts for TV channel - MSNBC - 20120520:13:12:00
Sequencing. the debt ceiling happens by january 2nd. all of that comes due by january 2nd. we don't hit the debt ceiling, we don't breach it until february or march, we expect. so what will happen is we actually get to the debt ceiling. what it will mean is we didn't come to a deal on the huge hit betsy was talking about. so the financial markets are freaked out already. americans are paying more money, we're in the single-largest government-induced fiscal contraction in american history. and now on top of that, on top of that demonstrated inability to agree on that and on top of the economic ...
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